Bandwidth Inc. (NASDAQ:BAND) CFO Sells $73,819.50 in Stock

Bandwidth Inc. (NASDAQ:BAND) CFO Daryl Raiford sold 4,350 shares of Bandwidth stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $16.97, for a total value of $73,819.50. Following the completion of the transaction, the chief financial officer now directly owns 71,546 shares in the company, valued at $1,214,135.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Daryl Raiford also recently made the following trade(s):

• On Thursday, August 29th, Daryl Raiford sold 1,245 shares of Bandwidth stock. The stock was sold at an average price of $17.42, for a total value of $21,687.90.
• On Tuesday, July 23rd, Daryl Raiford sold 1,769 shares of Bandwidth stock. The stock was sold at an average price of $22.22, for a total value of $39,307.18.
• On Wednesday, June 5th, Daryl Raiford sold 7,600 shares of Bandwidth stock. The stock was sold at an average price of $20.80, for a total value of $158,080.00.

Bandwidth Stock Down 1.6 %

Shares of NASDAQ BAND traded down $0.28 during midday trading on Tuesday, hitting $16.88. 187,804 shares of the stock traded hands, compared to its average volume of 335,362. The company has a market cap of $460.82 million, a PE ratio of -15.07 and a beta of 1.48. Bandwidth Inc. has a one year low of $9.34 and a one year high of $25.02. The business has a 50 day moving average price of $17.88 and a two-hundred day moving average price of $18.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.16.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. Bandwidth had a negative return on equity of 1.89% and a negative net margin of 3.21%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share. On average, equities analysts predict that Bandwidth Inc. will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Resurgent Financial Advisors LLC boosted its position in shares of Bandwidth by 4.6% during the first quarter. Resurgent Financial Advisors LLC now owns 11,840 shares of the company’s stock valued at $216,000 after buying an additional 520 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Bandwidth by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock valued at $269,000 after buying an additional 1,334 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Bandwidth by 2.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock valued at $850,000 after buying an additional 1,342 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Bandwidth during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley downgraded Bandwidth from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $18.00 to $15.00 in a report on Friday, June 14th. Barclays lowered their target price on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group lifted their target price on Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. KeyCorp lifted their target price on Bandwidth from $21.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.71.

Bandwidth Company Profile

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.